Sensex surges 440 pts, Nifty ends at 8744; Asian Paints up

The market on Tuesday ended with smart gains as the Sensex gained 440.35 points or 1.6 percent at 28343.01, and the Nifty closed up 136.90 points or 1.6 percent at 8744.35.

Shares such as Bajaj Auto, Asian Paints, Maruti, GAIL and HDFC Bank were gainers were gainers while Bharti was down three percent.

Crompton Greaves, the electrical energy solutions provider, turned profitable in the quarter ended June 2016 on account of strong revenue and operational growth. Profit stood at Rs. 40 crore for the quarter against loss of Rs. 63.7 crore in year-ago period.

"The loss from discontinued operations after tax stood at Rs. 49.57 crore in Q1 against profit of Rs. 1.47 crore in corresponding period of last fiscal and loss of Rs. 223.8 crore in preceding period," the company said.

Drug firm Cipla today said its US arm InvaGen Pharmaceuticals Inc has received final approval from the American health regulator to market generic Bupropion Hydrochloride extended release tablets used for treatment of major depressive disorder.

"InvaGen Pharmaceuticals Inc has received final approval for its abbreviated new drug application (ANDA) for Bupropion Hydrochloride extended release tablets (XL), 150 mg and 300 mg, from the United States Food and Drug Administration," Cipla said in a statement.

The product is available for shipping immediately, it added.

The company's tablets are generic versions of Valeant's Wellbutrin XL tablets in the same strengths, Cipla said.

"The tablets are indicated for the treatment of major depressive disorder (MDD) and prevention of seasonal affective disorder (SAD)," it added.